Amid such conditions, in November of last year, Haier Asia formed a strategic partnership with the Laos Ministry of Science and Technology (MOST) and the AMZ Group, which conducts investment consulting and comprehensive merchant services in Laos. Through this partnership, Haier Asia is making an effort to develop products for the improvement of the Laotian educational system as well as working with MOST to launch initiatives that will contribute to the expansion of electric bike (e-bike) related industries in Laos, where it has a strong presence in the power supply industries. The e-bike industry and other related fields are highly compatible with the region in terms of supply and economy.

Around the same time, Haier Asia and the AMZ Group established a local sales company, Haier Laos (location: Laos Vientiane), to accelerate B-to-G and B-to-B business with a focus selling products developed through the abovementioned collaboration with MOST as well as Haier products such as commercial A/C and refrigerators on the Laotian market.

To commemorate the completion of the e-bike prototype developed in collaboration with MOST, Haier will hold a ceremony to celebrate it as well as conduct joint tests in preparation for final commercialization. We have plan to release this e-bike within the year. From now on, we would like to proceed the joint projects with a consideration of establishing local assembly line in Laos.

The development of other IT products, including talking dictionaries, PCs, and tablets being developed in collaboration with MOST is proceeding smoothly and we will continue to release information in a timely manner.

Haier Asia will continue focusing on collaboration projects with the Laotian government as a way to contribute to the development of Laos and as part of our initiative to double our business scope in ASEAN within the next three years.